Investment

Mexican scooter startup, Grin, raises US$20M in Seed round

Grin recently made headlines when the Mexican startup was accepted into the Y Combinator in Silicon Valley. Now, Mexico’s fastest-growing scooter-sharing startup has raised US$20M from a cohort of investors including Y Combinator, DCM Ventures, Trinity Ventures, and Shasta Ventures, after pitching at YC Demo Day on August 21st, 2018.

Grin, founded just months ago in April 2018, provides electric scooters for transportation across Mexico City through an app. Users can find available scooters and scan a QR code to rent the vehicle. Grin already has over 5000 downloads and has registered 20,000 rides.

Grin has previously raised funding from Monashees, Sinai Ventures, Qasar Younis, Pi Campus, Liquid2 Ventures, Investo, Base10 Partners, Ariel Poler, and 500 Startups. Grin is currently working on partnerships with local restaurants and businesses to create charging stations for the hundreds of scooters it has deployed across Mexico’s capital.

Read more in PulsoSocial.

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